Biostax Corp. and Statera Biopharma, Inc. reach mutually beneficial dispute settlement and amended license agreement providing clearer clinical and commercial pathways for both companies
2023年4月20日 - 10:05PM
Immune Therapeutics, Inc. d/b/a Biostax Corp. (OTC Pink: IMUN)
(“Biostax”), a hub-and-spoke biotech development engine and Statera
Biopharma (OTCPK:STAB) (“Statera”), a biopharmaceutical company
creating next-generation immune therapies for cancer, autoimmune
disease and infections, announced that the Board of Directors of
both companies has approved both a joint petition to dismiss the
involuntary bankruptcy case with Statera and an amended
royalty-bearing license agreement between Biostax and Statera for
select Statera intellectual property.
Under Amendment No. 3 to the License Agreement, Biostax will pay
royalties to Statera and obtain worldwide exclusive rights to
numerous patents surrounding Low-dose Naltrexone and Met-enkephalin
(MENK), for all indications except Crohn’s Disease, which Statera
will continue to develop and commercialize. Detailed terms about
the settlement and the amended license agreement may be found at
www.biostaxcorp.com and www.staterabiopharma.com.
Kelly Wilson, Chief Executive Officer of Biostax Corp. said,
“This settlement agreement is an important step for Biostax, as it
supports solidifying and expanding our position within the low-dose
naltrexone and TLR4 space. It also helps avoid various worldwide
intellectual property disputes, secures licensing rights to some of
Statera’s intellectual property, provides a clearer clinical and
commercial pathway for years to come, and expands opportunities to
explore new indications and territories. We believe that this
settlement is beneficial to our company, shareholders, and
potential patients. Congratulations to our Board of Directors and
executives, along with the Board of Directors and executive team at
Statera Biopharma, for reaching this agreement, which allows both
companies to benefit and move forward with their respective
programs.”
“This settlement with Biostax represents a major next step in
moving forward with the previously announced merger proposal with
Worksite Labs which could enhance shareholder value and strengthen
the company’s operating performance,” commented Michael K. Handley,
Chief Executive Officer of Statera Biopharma. He also noted,
“We look forward to issuing additional details regarding the merger
intent over the next several weeks as well as our efforts to work
with Biostax to help patients and create shareholder value.”
About Biostax
Biostax Corp. is a pioneering pharmaceutical company involved in
the acquisition, development, and commercialization of
pharmaceutical and biotechnology products that have a well-defined
path to market. By utilizing a biotech portfolio hub-and-spoke
engine, we plan to advance focused and efficient small-scale
biotechnology and pharmaceutical programs through subsidiaries,
investment vehicles or partnerships, and deploy products from those
programs in markets both in the U.S. and internationally for
initial commercialization.
About Statera
Statera Biopharma is a clinical-stage biopharmaceutical company
developing novel immunotherapies targeting autoimmune,
neutropenia/anemia, emerging viruses, and cancers based on a
proprietary platform designed to rebalance the body's immune system
and restore homeostasis. Statera has one of the largest platforms
of toll-like receptor (TLR) agonists in the biopharmaceutical
industry with TLR4 and TLR9 antagonists, and the TLR5 agonists,
Entolimod and GP532. TLRs are a class of protein that plays a key
role in the innate immune system. Statera is developing therapies
designed to directly elicit within patients a robust and durable
response of antigen-specific killer T-cells and antibodies, thereby
activating essential immune defenses against autoimmune,
inflammatory, infectious diseases, and cancers. Statera has
clinical programs for Crohn's disease (STAT-201), hematology
(Entolimod), Cancer T-cell exhaustion and COVID-19 (STAT-205) in
addition to potential expansion into other autoimmune diseases. To
learn more about Statera Biopharma, please visit
www.staterabiopharma.com.
Forward Looking Statement
This press release may contain information about our views of
future expectations, plans and prospects that constitute
forward-looking statements. All forward-looking statements are
based on management’s beliefs, assumptions, and expectations of
Immune’s future economic performance, considering the information
currently available to it. These statements are not statements of
historical fact. Although Immune believes the expectations
reflected in such forward-looking statements are based on
reasonable assumptions, it can give no assurance that its
expectations will be attained. Immune does not undertake any duty
to update any statements contained herein (including any
forward-looking statements), except as required by law. No
assurances can be made that Immune will successfully acquire its
acquisition targets. Forward-looking statements are subject to a
number of factors, risks, and uncertainties, some of which are not
currently known to us, that may cause Immune’s actual results,
performance, or financial condition to be materially different from
the expectations of future results, performance, or financial
position. Actual results may differ materially from the
expectations discussed in forward-looking statements. Factors that
could cause actual results to differ materially from expectations
include general industry considerations, regulatory review and
approval of our prospective products, changes in local or national
economic conditions and other risks set forth in “Risk Factors”
included in our filings with the Securities and Exchange
Commission.
Disclaimer
The information provided in this press release is intended for
general knowledge only and is not a substitute for professional
medical advice or treatment for specific medical conditions. Always
seek the advice of your physician or other qualified health care
provider with any questions you may have regarding a medical
condition. This information is not intended to diagnose, treat,
cure or prevent any disease.
Biostax Contact:
Kelly O. WilsonChief Executive
Officerir@biostax.net 1-888-391-9355
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